Silver prices rose 1.3% during Wednesday’s trading session, heading for a fourth consecutive session of gains, and touched a two-week high of $60 per ounce.

Scenario 1:

Silver is currently trading above the daily pivot point at $58.48. If it manages to stay above this level, it could rise toward the next resistance levels at $60.53 then $61.55.

Scenario 2:

If silver prices fall below the daily pivot point at $58.48, they may test the first support level at $57.257. It should be noted that if the price remains below this level, it could put pressure on silver, pushing it toward the next support level at $56.17.

Top News:

Investors’ attention today is focused on upcoming remarks by U.S. President Donald Trump, which could affect risk appetite and dollar movements—and, in turn, the performance of precious metals, including silver.